On January 23, 2006, the US Trustee appointed representatives from 5 of the Fund’s investors as a Committee of Unsecured Investor Creditors.

On January 24,  the bankruptcy judge granted 3 motions requested by the Fund:

(1) the motion that will allow us to proceed in the appeal of the decision in the Six Sigma bankruptcy;

(2) the application to employ the Heller Ehrman, the law firm representing the Fund in the Six Sigma case; and

(3) the motion extending the bar date (date to file proofs of claim) to March 6, 2006.

REMINDER: If you have checked the list of plan and trust investors (equity holders) that was filed with the court (and also posted on the website shown below), and if the value showing is consistent with your records, then your plan should not have to file a proof of claim. Participants do not need to file claims.

We also filed the Fund’s monthly operating reports for the months of September, October, and November and asked the Judge to extend the time for the Fund to have the exclusive right to file a plan of reorganization from January 27 to April 12. Now that the Committee has been formed, we will be able to move forward, working with them to develop a consensual plan.

Documents related to these matters are posted on the web site at www.fiduciarycounselors.com/stablevalue.htm. 

Regards,

Vicki Dungan
____________________________

Vicki L. Dungan ABC
Vice President, Communication
FIDUCIARY COUNSELORS INC.
700 12th St NW, Suite 700, Washington, DC 20005
phone 202.558.5132
fax 202.558.5140
cell 202.320.9341
email vicki.dungan@fiduciarycounselors.com